Chart of the Day: Net New Jobs in March

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The American economy added 98,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at 8,000 jobs. That’s pretty dismal, but under the surface the news was better: the number of employed people went up by 472,000 and the number of unemployed declined by 326,000. As a result, the headline unemployment rate dropped to 4.5 percent.

Hourly earnings of production and nonsupervisory employees went up at an annual rate of about 2.3 percent for the second month in a row. That’s about even with the inflation rate, which means the real increase was close to zero. That’s disappointing given recent signs that wages were starting to make gains.

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We've never been very good at being conservative.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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